Finance Division Holds Annual Seminar for Budget Managers, Others

On February 15, the Finance Division held an interactive seminar with the university community.

An annual event, this year’s edition which was attended by President Dekle and Provost Mohammadu Kah, provided an ‘opportunity for valuable feedback from the community, build greater understanding of finance operations, and create an avenue for the community to receive updates on changes in its process.’
 
Attendees, including budget managers, administrators, transaction officers, and others from user departments and units freely asked questions and received answers about the university’s finance operations.
 
“We want to constantly improve ourselves,” said Interim VP of Finance, Olanipekun Olanrewaju, “to ensure we are giving the community the best we can offer.”
 
Heads of the various divisional departments gave a presentation on their responsibilities and how these key into larger organizational goals and policy objectives. They include heads of Procurement & Strategic Sourcing (Hansen Ivara), Financial Operations (Ibrahim Damare), Assets/Accounting Control (Ms. Nnenna Mosugu), Budget Office (Samson Mshelia), Payroll (Ms. Adenike Adekeye), and Storage (Abubakar Musa).
 
Senior Director Ivara explained how his department leverages the reputation of AUN to create value.
 
“Our university has a buying power which my department leverages to negotiate,” he said. “Everybody sees AUN as an organization to do business with because of the standard, the procedure, because of the economic power we are seen to possess.”
 
He further demonstrated that his department has continued to build a strategic partnership with those outside the community that are considered external customers.
 
Director of Financial Operations, Mr. Damare, explained why external organizations are usually willing to offer grants to AUN, attributing this to this university’s regular compliance with the highest accounting best practices.
 
Mr. Damare revealed that AUN is the first educational institution in Nigeria to convert to the International Financial Reporting Standards (IFRS).
 
“Our financial statements are acceptable worldwide.”


 
Associate Director, Accounting Control, Ms. Nnenna Mosugu, presented on AUN assets management, highlighting the benefits of effectively tracking assets, how to use the opener automation, and handling of damages.
 
She showed in graphics, how AUN’s assets have grown by approximately 25 percent in four years (2014-2017).
 
Manager Payroll, Ms. Adekeye, said the university adheres strictly to regulations stipulated in the Nigerian labor laws.
 
Budget Director, Mr.  Mshelia, said budget monitoring and management are necessary in order to achieve financial goals for the year.
 

Reported by Omorogbe Omorogiuwa

 

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